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2017 (2) TMI 788 - AT - Income Tax
Gain on office unit (flat) sold - LTCG v/s STCG - computation of Holding period - Held that:- Holding period should be computed from the date of issue of allotment letter. If we do so, the holding period becomes more than 36 months and consequently, the property sold by the assessee would be long term capital asset in the hands of the assessee and the gain on sale of the same would be taxable in the hands of the assessee as Long Term Capital Gain. - Decided in favour of assessee